The Scotts Miracle-Gro Company (NYSE:SMG) Given Consensus Recommendation of “Hold” by Brokerages

The Scotts Miracle-Gro Company (NYSE:SMG) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $75.40.

Several equities analysts have recently weighed in on SMG shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 target price on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Friday, July 31st. Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group upped their price objective on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th.

Scotts Miracle-Gro Stock Down 1.6%

Shares of SMG stock opened at $61.89 on Tuesday. Scotts Miracle-Gro has a 52-week low of $52.00 and a 52-week high of $75.34. The stock has a market cap of $3.60 billion, a PE ratio of 53.82 and a beta of 1.82. The business has a 50-day simple moving average of $65.44 and a 200-day simple moving average of $64.34.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.48 by $0.34. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $2.59 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Scotts Miracle-Gro will post 4.39 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, August 21st. Scotts Miracle-Gro’s payout ratio is currently 229.57%.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 30,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $67.45, for a total transaction of $2,023,500.00. Following the transaction, the director owned 13,137,641 shares in the company, valued at approximately $886,133,885.45. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen L. Johnson sold 1,171 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $68.32, for a total value of $80,002.72. Following the completion of the sale, the director directly owned 30,179 shares in the company, valued at approximately $2,061,829.28. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On Scotts Miracle-Gro

Institutional investors have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new position in Scotts Miracle-Gro during the first quarter worth $26,000. Key Capital Management INC acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Scotts Miracle-Gro in the third quarter valued at about $32,000. Elevation Wealth Partners LLC increased its stake in shares of Scotts Miracle-Gro by 394.1% during the second quarter. Elevation Wealth Partners LLC now owns 751 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 599 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Scotts Miracle-Gro by 127.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.